LTV will auction offCleveland and Ind. mills
CLEVELAND -- LTV Corp. will conduct an auction Feb. 27 for its steel mills in Cleveland and Indiana. Judge William Bodoh of U.S. Bankruptcy Court in Youngstown will conduct a hearing to approve the results of the auction Feb. 28. Out of cash and customers, the Cleveland-based steelmaker has agreed to keep the mills idling as it tries to find buyers.
Jobless rate risesto a 6-year high
WASHINGTON -- The nation's unemployment rate climbed to 5.8 percent in December, the highest in more than six years, as businesses cut 124,000 jobs. December's job loss reflected continued declines in manufacturing, retail, air transportation and temporary employment services. But the hemorrhaging slowed somewhat last month since job losses had averaged about 400,000 a month in October and November.
Staff and wire reports